Rainbow Lakes Homes for Sale

Rainbow Lakes is a residential community in Boynton Beach, Florida.

Pure Equity Realty covers Rainbow Lakes and the Boynton Beach area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows a single listing for Rainbow Lakes Boynton Beach homes for sale as of October 2026. The median asking price is $595,000.

That is 75% above the Boynton Beach median of $340,000. On a per-foot basis, homes here ask about $347 per square foot, compared with $238 across Boynton Beach. So the median price buys roughly 1,700 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 3 days on the market. That is faster than the Boynton Beach average of 102 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in Rainbow Lakes date from 1989 to 1990. That puts them between 36 and 37 years old.

All of these homes predate Florida's 2002 statewide building code. So roof age, window protection and the wind mitigation report matter a great deal for insurance.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Rentals in Rainbow Lakes have a median asking rent of $3,925 per month, across 2 active rental listings. For comparison, the Boynton Beach median is $2,700, so rents here run 45% higher.

You can browse current Boynton Beach rentals or ask us for a rent estimate on a specific Rainbow Lakes home.

Here is what the median Rainbow Lakes price means in Florida closing terms. At $595,000, a 20% down payment comes to about $119,000, leaving a loan near $476,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $1,666. Next, the intangible tax of 0.2% adds about $952. Buyers normally pay both at closing.

On the seller side, Florida deed stamps cost 70 cents per $100 of price. At the Rainbow Lakes median, that is about $4,165.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent Rainbow Lakes listings show assignments to Crystal Lakes (Palm Beach) (elementary), Christa McAuliffe (middle) and Park Vista (high). However, boundaries can change each year, so confirm the assignment for a specific address with the School District of Palm Beach County.